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Strikingly, entrepreneurship is often linked to the midlife crisis. Even if more and more students are planning to start a business after their studies, the average age for starting an innovative business is 38 years old. The primary motivation is the pursuit of freedom and personal fulfillment. Entrepreneurship can help in finding one’s « ikigai, » a blend of passion, mission, profession, and vocation. Creating a business certainly involves risks, but these can be managed. Intrapreneurship can be considered as an alternative option. Freedom does come at a cost, but taking risks can help avoid a professional dead end.
E. Krieger
A survey conducted by HEC Paris has shown that an increasing number of students (over 20%) intend to start a business within three years after completing their studies, with some even launching a startup during their education. However, the average age of a tech-based business founder is 38 years old. This age is very close to the famous midlife crisis, during which many people decide to change direction when their lives do not align sufficiently with their aspirations, and they feel they have insufficient impact on the world.
At this age, after spending around fifteen years finding their path and establishing themselves professionally, it can become increasingly unbearable to work within organizations where your initiatives are often blocked, often for « very good reasons, » which can lead to a sense of inaction or doing very little. The ultimate paradox is that, in the end, you may be blamed for your inaction. The art of overcoming certain paradoxical demands is part of the survival kit for many employees.
Entrepreneurship and Midlife Crisis
Several studies have shown that those who choose to embark on the entrepreneurial journey are not primarily motivated by money. The desire for freedom and personal fulfillment remains the main driver of entrepreneurship.
This brings us to the famous intersection popularized by the Japanese, between what you love to do, what you are good at, what the world needs, and what you can be paid for.
Entrepreneurship can be a great way to find your « ikigai, » a term that roughly corresponds to your purpose, a synthesis of your passion, mission, profession, and vocation.
The Components of Ikigai
However, achieving this goal poses several challenges.
Is it worth the Risk, or is the Risk of taking no Action greater?
Even though there are more opportunities than ever, a mid-career professional must consider more factors before venturing into entrepreneurship. You must face significantly higher expenses than in your twenties, especially if you have a family to support and multiple loans to repay. Starting your own business is undeniably risky, but those who would be paralyzed by this prospect can also agree that those who never take risks often end up working for those who did. Many great entrepreneurs are not necessarily geniuses, but they are often visionaries and advocates of calculated risk-taking.
Intrapreneurship or Taking the Leap?
If you choose to stay with your current employer, intrapreneurship can be a good way to untangle the Gordian knot. In this case, it is advisable to develop your managerial skills and strengthen human qualities such as diplomacy and determination. Training and mentoring can help you cultivate these talents.
However, the most rational option in mid-career is sometimes to reinvent your future elsewhere. If you find yourself in this situation, it may be the right time to take the leap, as most entrepreneurs are over 35 years old. A study conducted on a sample of 525 participants in a program for creators of innovative businesses (HEC Challenge +) showed that the average age of these entrepreneurs is 38 years old.
Several training and support programs can help you develop your skills and mobilize resources to enhance the success of your business. Incubators or startup accelerators, mentoring, seed funds, and various digital tools and collaborative networks are part of the range of services that will help you identify and develop business opportunities.
The Price of Freedom
According to Henry de Montherlant, « Freedom exists: you just have to pay the price for it. » This perspective is not very far from the previous one, where taking risks is often necessary to avoid ending up in a dead end.
